Oshkosh Corporation (OSK)

Return on total capital

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	837,600	769,200	629,900	471,300	372,300	359,700	455,800	524,800	592,100	585,100	490,400	478,700	488,700	564,400	703,600	745,600	797,000	795,800	761,200	742,000
Long-term debt	US$ in thousands	597,500	597,500	597,300	595,200	595,000	594,800	594,600	594,400	818,800	818,600	818,300	818,100	817,900	817,600	817,400	819,200	819,000	818,700	818,500	818,300
Total stockholders’ equity	US$ in thousands	3,705,300	3,543,300	3,396,800	3,247,200	3,185,700	2,891,300	2,877,000	2,968,000	3,357,700	3,228,700	3,018,200	2,932,600	2,850,700	2,768,900	2,689,000	2,681,100	2,599,800	2,596,900	2,499,700	2,411,200
Return on total capital		19.47%	18.58%	15.77%	12.27%	9.85%	10.32%	13.13%	14.73%	14.18%	14.46%	12.78%	12.76%	13.32%	15.74%	20.07%	21.30%	23.31%	23.30%	22.94%	22.98%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $837,600K ÷ ($597,500K + $3,705,300K)
= 19.47%

Oshkosh Corp's return on total capital has shown a consistent upward trend over the past eight quarters. The company's return on total capital has steadily increased from 10.03% in Q4 2022 to 18.71% in Q4 2023, indicating improving efficiency in generating profits from its total invested capital. This upward trend suggests that Oshkosh Corp is effectively utilizing its capital to generate returns for its stakeholders. The company's ability to consistently improve its return on total capital reflects positively on its operational performance and financial health.